New FATF cryptocurrency regulate guidance is totally disaster!

[FastPony]

Define "best". It is the most popular one (highest volume / market cap). Personally, I‌ would prefer DAI, though.

And yes, Tether didn't (have to) admit to any wrongdoing. What‍ you quoted is just this NYAG lady ranting, because she couldn't prove anything. Her statement⁠ has no relevance.

 

[Golden Fleece]

Obviously, you do not know how the⁤ legal process works in the U.S. It was not a rant. It was an official⁣ legal "finding" by an investigative arm of the State of New York. These official legal⁢ findings explain why Bitfinex and Tether both settled the case. The settlement agreement is available︀ to the public.

https://ag.ny.gov/sites/default/fil...xecution_version.b-t_signed-c2_oag_signed.pdf

 

[OTR365]

Yes it‌ was, compared to their market cap (currently $50 billion). A long court battle settled with‍ a tiny slap on the wrist, just enough to let the NYAG to keep their⁠ faces. Unless the saga continues, it was a clear victory for Tether.

 

[JohnLocke]

I wonder why it is that hard to get a court order to see the‌ liquidity they claim to have or force them to shut down the operation. That's what‍ governments and other authorities to all the day with small operations with no interest to⁠ them.

That said, I already read storys about Tether some time ago, first I did⁤ like many around here, just invested blindly 50K in this coin while I thought my⁣ money were secure there. Then I realized a big mistake and moved the funds out⁢ of there again, ending up in DAI at the moment.

 

[369]

How many people lost nearly everything using⁤ DAI Defi ?

Maybe because Tether coworks with Rothschilds bank ?

 

[JohnLocke]

looks like it is almost impossible to secure anything in the Crypto world.

If it‌ is not USDC, then Tether so USDT, DAI ... the list goes on.

 

[khinkali]

What about Paxos? They are very heavily regulated. Obviously that can be the opposite of‌ what you want, but it seems pretty safe to park money in their USD and‍ gold backed tokens

 

[369]

The purpose of crypto was to promote digital money and run a⁠ testnet and look for new innovations.
Regulated crypto will replace in the next years all⁤ unregulated crypto.
Unregulated crypto is only as long popular as you can use it to⁣ pay your bills or exchange against fiat.

People need to realize that governments ALWAYS and⁢ INSTANTLY destroyed any alternative money and put the founders in the prison.The history is full︀ of them.Destroying bitcoin would be so easy which MtGOX showed or the chinese holding more︁ than 51% of hash power but they never touched it.
JPM pushing bitcoin since 2009︂ were reports showed that they were logging to bitcoin exchanges on average 50 times per︃ day.

Once regulated and governmental crypto comes out the purpose for current cryptos will end.︄